The fifty fifth meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during June 4 to 6, 2025. The Monetary Policy Committee (MPC) held its 55th meeting from June 4 to 6, 2025 under the chairmanship of Shri Sanjay Malhotra, Governor, Reserve Bank of India. The MPC members Dr. Nagesh Kumar, Shri Saugata Bhattacharya, Prof. Ram Singh, Dr. Poonam Gupta and Dr. Rajiv Ranjan attended the meeting.
After assessing the current and evolving macroeconomic situation, the MPC voted to reduce the policy repo rate by 50 basis points (bps) to 5.50 per cent with immediate effect. Consequently, the standing deposit facility (SDF) rate under the liquidity adjustment facility (LAF) shall stand adjusted to 5.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 5.75 per cent. This decision is in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.
Voting on the Resolution to reduce the policy repo rate
| Member | Vote | Magnitude of policy repo rate reduction (basis points) |
| Dr. Nagesh Kumar | Yes | 50 |
| Shri Saugata Bhattacharya | Yes | 25 |
| Prof. Ram Singh | Yes | 50 |
| Dr. Rajiv Ranjan | Yes | 50 |
| Dr. Poonam Gupta | Yes | 50 |
| Shri Sanjay Malhotra | Yes | 50 |